Getting to Know Crypto Ecosystem Funds, What Are They Used for?

Jakarta, – Bitget, a crypto derivatives and copy trading platform, has entered into a partnership with Core DAO, an organization dedicated to developing the Satoshi Plus ecosystem. The collaboration will involve a US$200 million ecosystem fund focused on supporting decentralized applications (DApps) built on the Core Network Layer-1 blockchain.

The launch of the fund follows the launch of the Core network mainnet and the first airdrop of CORE tokens, which were claimed by over 1.5 million users; and new integration with the cross-chain messaging protocol, LayerZero, and Oracle’s permissionless protocol, Switchboard. This Ecosystem Fund, backed by strategic partners including Bitget and MEXC, will provide support to early-stage projects for research and development, recruiting, marketing, community building programs, and other priority growth initiatives.

Apart from the US$200 million investment, the partnership also involves the potential listing of Core projects as well as the opening of a new Core Trading Zone on Bitget and its integrated BitKeep wallet. Special focus will be devoted to the Core ecosystem fund and technology endeavour, providing the project with the support and experience of the Bitget team in terms of security and other possible development paths.

Bitget also intends to become one of the Core network validators and support Core staking on the exchange. With over 8 million users, Bitget can provide significant staking requirements for the Core DAO ecosystem and supply the necessary liquidity.

“This investment is yet another testament to our commitment to supporting the blockchain space from various angles. We must remember that the goal of blockchain is to connect the real world to the Web3 space, and that is what we are promoting through this partnership and our support of the ecological fund. With our help, we believe Core can reach even greater heights and push the principles of true decentralization, championing transparency and improved cross-chain experiences for community members,” said Gracy Chen, Managing Director of Bitget, commenting on the announcement of the collaboration. .

Unlike industry peers, DAO’s Core Ecosystem Fund will not utilize a grant-based system where a project’s primary criterion for receiving financial support is a commitment to build on a given protocol. Instead, the Core Ecosystem Fund will award each project that achieves a customized, agreed-upon benchmark that delivers real value to the Core community.

“Often, grant programs like this are designed to attract attention and generate short-term momentum rather than incubating projects that align with the ecosystem’s long-term success,” said Rich Rines, Initial Contributor at Core DAO. “Core DAO has always prioritized building the highest quality technology over being the ‘first’ or ‘fastest’ to do something. That’s why our Ecosystem Fund with Bitget will incentivize projects based on their ability to deliver value and sustain success.”

This partnership comes after the latest launch of the Bitget Web3 Fund, which is part of Bitget’s ongoing efforts to facilitate the development of Web3 and the crypto industry. Exchange Bitget has undertaken an extensive expansion campaign recently, focused on promoting its ‘Go Beyond Derivatives’ strategy, which plans collaborations with various real-world projects as well as Web3.

Among its recent initiatives is a sleeve partnership with Juventus football club as well as entering the Web3 space through the acquisition of several related projects. Bitget intends to promote blockchain adoption to a wider audience of users by offering access to decentralized services and thereby expanding its product line.

[Gambas:Video CNBC]

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